Guiding you with Qualified Charitable Distributions from your IRA

A 60-second read by James Suazo, ChFC®:   Can I do a Qualified Charitable Distribution (QCD) from my Individual Retirement Account (IRA)?  This post provides guidelines for taking QCDs from IRAs.  You need to be at least age 70 ½ before you can make a QCD.  

A Qualified Charitable Distribution is a way to support charities while also reducing taxable income created by your IRA distribution. For Baron clients, we can help determine if this is beneficial for you.

The decision and procedure to carry out this strategy can be confusing.  To help make the analysis easier, we are sharing the “Can I Do A Qualified Charitable Distribution From My IRA?” flowchart. This flowchart addresses common issues pertaining to QCD rules, including:

• Age requirements
• Distribution limits
• Qualified charitable beneficiaries
• The effect of account contributions
• Step-by-step reporting process

Reference this Flow Chart for guidance with your QCDs from an IRA
(Click on the image to see a larger version of the chart)

Visit our website blog for more information about IRAs.  

As always, it is best to discuss your options with your personal financial advisor and/or tax professional who knows your specific circumstances.

 Read more to learn how we can help with your retirement planning. 

If you have any further questions, please contact the Baron Financial Group Team.

Disclosure: This is a general communication being provided for informational purposes. This material is not intended to be relied upon as forecast, research, tax or investment advice. Past performance is no guarantee of future results. Every investment strategy has the potential for profit and loss. Please consult your financial planning and tax professional for personal advice.